Retirement Planning Co of New England Inc. Has $1.79 Million Stock Holdings in RTX Co. (NYSE:RTX)

Retirement Planning Co of New England Inc. trimmed its position in RTX Co. (NYSE:RTX) by 0.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 15,429 shares of the company’s stock after selling 83 shares during the period. RTX makes up 0.9% of Retirement Planning Co of New England Inc.’s portfolio, making the stock its 26th biggest holding. Retirement Planning Co of New England Inc.’s holdings in RTX were worth $1,785,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RTX. MidAtlantic Capital Management Inc. acquired a new position in RTX in the 3rd quarter valued at $29,000. Fairway Wealth LLC acquired a new stake in shares of RTX during the 4th quarter worth $31,000. Picton Mahoney Asset Management grew its holdings in shares of RTX by 2,944.4% during the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after purchasing an additional 265 shares in the last quarter. Modus Advisors LLC acquired a new stake in shares of RTX during the 4th quarter worth $39,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new stake in shares of RTX during the 4th quarter worth $40,000. 86.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Christopher T. Calio sold 27,379 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $130.36, for a total value of $3,569,126.44. Following the completion of the sale, the chief executive officer now owns 81,508 shares of the company’s stock, valued at approximately $10,625,382.88. This represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Troy D. Brunk sold 2,872 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $125.95, for a total value of $361,728.40. Following the completion of the sale, the insider now directly owns 5,272 shares of the company’s stock, valued at approximately $664,008.40. The trade was a 35.27 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 79,831 shares of company stock valued at $10,309,302. Company insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their target price on RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. StockNews.com lowered RTX from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and increased their target price for the stock from $131.00 to $140.00 in a report on Thursday, January 2nd. Wells Fargo & Company increased their target price on RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Finally, Vertical Research upgraded RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, RTX currently has an average rating of “Moderate Buy” and an average price target of $163.40.

RTX Price Performance

RTX stock opened at $131.86 on Tuesday. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $176.04 billion, a PE ratio of 37.14, a P/E/G ratio of 2.11 and a beta of 0.78. RTX Co. has a 12 month low of $92.35 and a 12 month high of $135.36. The stock has a 50-day moving average price of $125.69 and a two-hundred day moving average price of $122.23.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. Analysts expect that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be paid a $0.63 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 1.91%. RTX’s payout ratio is 70.99%.

About RTX

RTX Corporation, an aerospace and defense company, provides systems and services for the commercial, military, and government customers in the United States and internationally. It operates through three segments: Collins Aerospace, Pratt & Whitney, and Raytheon. The Collins Aerospace Systems segment offers aerospace and defense products, and aftermarket service solutions for civil and military aircraft manufacturers and commercial airlines, as well as regional, business, and general aviation, defense, and commercial space operations.